ROCK HILL, SC / ACCESSWIRE / July 10, 2020 / At this point it is common knowledge that the IRS has extended the April 15, 2020 deadline to July 15, 2020, giving individuals, businesses, and tax-exempt organizations additional time to complete their tax returns and make any tax payments. However, it may not be common knowledge that filing an extension of time is still an option for all of these affected deadlines.
The team at ExpressExtension is busy at work facilitating the filing of IRS extension Forms 7004, 4868, and 8868 and reminding filers that they have the option of additional time to file income tax returns.
Choosing the Correct Extension Form
Selecting the appropriate IRS Tax Extension is easy with ExpressExtension. The following extension forms will be needed for business owners, individuals, and tax-exempt organizations by July 15, 2020.
Form 7004 applies to business income taxes and will likely be filed by corporations and partnerships needing an extension on their Form 1120 and Form 1065 respectively. Business owners are able to bundle both Form 7004 and Form 4868 for a discounted price if they wish to extend both their business and personal income taxes.
This extension form applies to personal income taxes. Any individual required to file a Form 1040 with the IRS should request this extension.
Tax Exempt organizations that wish to extend the deadline to file their annual Form 990. All tax exempt organizations, with the exception of those that file the Form 990-N, are eligible to file an extension Form 8868.
Misinformation About IRS Tax Extensions
When it comes to filing an extension, there is a surprising amount of misinformation. This often leads filers to feel apprehensive about the idea of filing an extension, when there is no reason to hesitate! The IRS has no problem with individuals, businesses, or tax exempt organizations that wish to file an extension for their tax return, they don't even require a reason for the request.
ExpressExtension is combating the misconception that paper filing is the best method to file a tax extension. As a matter of fact, filing electronically is much quicker and prevents common errors. Due to the effects of COVID-19, the IRS is strongly encouraging electronic filing over paper filing, as they are unable to process these returns at a normal pace. Filing electronically actually prevents common errors and speeds up the filing process. You get instant approval from the IRS.
Key Features of ExpressExtension
When filing with ExpressExtension, an IRS Authorized E-file Provider, extension forms are processed instantly. Within minutes filers can transmit their extension request to the IRS and receive automatic approval. One of the greatest misunderstandings is that tax payments are included in tax extensions. Tax payments must be made on the original deadline. ExpressExtension allows users to easily make their tax payment to the IRS while filing their extension.
With ExpressExtension, users can expect an easy-to-follow, interview-style format. The cloud-based software allows filers to complete their extension form in minutes and receive instant IRS approval for an automatic six month tax extension. In case of any rejection from the IRS, we have extensive support including Online Knowledgebase, Chat, Email, and our friendly support staff over the phone.
When asked about the upcoming IRS deadlines, Naga Palanisamy, President and Co-founder replied, "As individuals and businesses entities across the nation seek more time to file their income tax forms, our team is prepared to meet this high demand. As industry leaders, ExpressExtension offers superior software that facilitates easy and efficient filing. We have been offering this service for over ten years."
ExpressExtension provides a complete solution for personal tax extensions with Form 4868. Business owners can easily e-file extension Form 7004. ExpressExtension also supports the extension of Form 8809 for ACA reporting and Forms 1099, as well as the Form 8868 for tax-exempt organizations.
About SPAN Enterprises
SPAN Enterprises, the creator of ExpressExtension, is an industry leader in software solutions for IRS filing and the transportation industry. Located in the heart of downtown Rock Hill, South Carolina, SPAN proves that big ideas can grow in a small town. SPAN Enterprises offers a wide variety of software solutions including the Business Management Software, TruckLogics and Unitwise, TaxBandits' business tax solutions, ExpressTaxExempt for nonprofit organizations, and ACA reporting software, ACAwise, along with the addition of 123PayStubs, an Online PayStub Generator.
SOURCE: SPAN Enterprises